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stock option, stock market
Begin part 2 of 3
THE PLAYS:
Monday night play results:
ALAN: Could not continue the move, gapping higher and fading on lower volume.
EXEL: Could not continue the move, fading back to the 10 day on lower volume.
IDNX: Another pullback that tried to bounce but got caught in the selling. Held the 10 day.
SATC: Gapped higher but could not hold the move fading back to the 10 day.
WGRD: Another one that gapped higher but could not hold the move.
New Plays:
Upside:
Play Date: 04/20/2004
DIOD (Diodes--$23.12; +0.12; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/d/diod.html
STATUS: Cup w/handle. A chip stock that has shown excellent strength as the chip stocks sold off, holding the 50 day EMA (22.32) on low volume. Outstanding 6 to 0 accumulation in the 14 week base. The accumulation shows money moving into the stock with 6 up weeks on rising volume to 0 down weeks on rising volume. Super money flow is leading up well ahead of the stock. Volume surged Tuesday. Looks ready to follow it up.
Volume: 169.409K Avg Volume: 93.045K
BUY POINT: $24.12 Volume=145K Target=$29 Stop=$22.43
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/diod.html
Play Date: 04/20/2004
LACO (Lakes Entertainment--$26.35; +0.72; no options): Gaming. Splits 2:1 on May 4.
http://biz.yahoo.com/p/l/laco.html
STATUS: Flat base. A neat little flat base that has formed over the 50 day EMA (24.21) the past 8 weeks. Volume dried up well below average in late March, early April, and then started to swell the past week as the stock jumped off the 50 day. Excellent money flow is leading higher ahead of price. Relative strength is ready for the breakout, a sign of a solid move. Tuesday volume was back to average as LACO started higher. Looks ready to make its pre-split run.
Volume: 166.688K Avg Volume: 131.272K
BUY POINT: $27.25 Volume=197K Target=$31.35 Stop=$25.34
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/laco.html
Play Date: 04/20/2004
MEDX (Medarex--$9.90; +0.42; optionable): Biotechnology
http://biz.yahoo.com/p/m/medx.html
STATUS: Flat base breakout. Volume surged Tuesday as MEDX rallied toward the breakout from its 13 week base that formed over the 50 day EMA (8.86). Another stock showing tremendous accumulation at 6 up weeks on rising volume to 0 down price weeks on rising volume. Relative strength broke out on this move, a very good indication of a solid pattern and move. Gave back very little as the market tanked late. Looking to move in as the stock starts back up.
Volume: 2.829M Avg Volume: 1.054M
BUY POINT: $10.03 Volume=1.6M Target=$12.08 Stop=$9.33
POSITION: MWM HB - Aug. $10c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/medx.html
Play Date: 04/20/2004
TRFX (Traffix--$6.68; -0.17; no options): Online database marketing company
http://biz.yahoo.com/p/t/trfx.html
STATUS: Breakout test. TRFX exploded out of the handle to a 13 month cup with handle base 8 sessions back. It has eased back to test the breakout and the 10 day EMA (6.55) on lower volume. Tuesday it was ready to make the run, jumping to 7.67 on the high and then giving it all back. Accumulation in the base is an excellent 20 to 6 and money flow is strong. Nice test and ready to run. Looking for it to move again on strong trade.
Volume: 414.76K Avg Volume: 154.09K
BUY POINT: $7.02 Volume=250K Target=$8.45 Stop=$6.53
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/trfx.html
End part 2 of 3
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stock option
stock market
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